Agenda - 02-19-2008-6b - Laserfiche WebLink

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DRAFT 106 VERSION B ORANGE COUNTY BOARD OF COMMISSIONERS A Resolution Regarding the Conduct of an Advisory Referendum on the Question of Whether to Levy a Local Land Transfer Tax WHEREAS, local governments in North Carolina have historically relied heavily on the ad valorem property tax as their major source of revenue; and WHEREAS, Orange County's reliance on the ad valorem property tax has increased steadily during this decade to the point that more than 69 percent of the County's revenue as. anticipated in the adopted 2007-08 Orange County Budget Ordinance derives from this source; and WHEREAS, for a number of years, the Orange County Board of County Commissioners, the North Carolina Association of County Commissioners and many other Boards across the state have lobbied the North Carolina General Assembly for legislative authority to expand counties' revenue options and thereby to lessen counties' reliance on ad valorem property taxes; and WHEREAS, during the 2007 legislative session, the General Assembly granted counties the authority to enact new local revenue options - either a land transfer tax of up to .4% or an additional'/4-cent sales and use tax, but not both - subject to voter approval; and WHEREAS, without an alternative revenue source, various unfunded school and County capital needs will likely have to be delayed or funded through increases in ad valorem property tax rates; and WHEREAS, on September 19, 2007 the Orange County Board of County Commissioners decided to seek voter approval of one or both local revenue options on the May 2008 ballot; and WHEREAS, on February 5, 2008 the Orange County Board of Commissioners held a public hearing to seek community input regarding the revenue options prospectively to be placed on the May 2008 ballot; NOW, THEREFORE, BE IT RESOLVED pursuant to N.C. Gen. Stat. § 105-601, the Board directs the following advisory referendum to be held and, with the concurrence of the Orange County Board of Elections, to be held on May 6, 2008: [ ] FOR [ ] AGAINST Real property transfer tax at the rate of up to [x] percent [x%] of value or consideration. (NOTE: Replace the x in the brackets with .1, .2,.3, or.4). Upon motion of Commissioner seconded by Commissioner the foregoing resolution was adopted this the day of , 2008. I, Donna S. Baker, Clerk to the Board of Commissioners for the County of Orange, North Carolina, DO HEREBY CERTIFY that the foregoing is a true copy of so much of the proceedings of said Board at a meeting held on as relates in any way to the adoption of the foregoing and that said proceedings are recorded in the Minute Book of the Board. WITNESS my hand and the seal of said County, this day of , 2008. Clerk to the Board of Commissioners